Step 4: Understanding & Decision Making
The final step is to decide what the statistics mean,
to learn new things about the world in which you are interested, and
to apply this knowledge to your decisions if necessary. Statistics
based on share returns data might help you understand the stock market
better, as well as help you make better investment decisions. Statistics
about customers might help you to sell more and be more profitable.
Examples abound.
One key is to remain humble and hard working in statistics. No single statistical study is definitive: the next time you try to study the same phenomenon you might get very different data and therefore very different results. You should therefore scrutinize your results for trustworthiness; ...
Get Business Statistics Made Easy in SAS now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
